

Terminal master’s degree gives you a specific set of skills
needed to practice in a particular field, such as education, business,
engineering, or other profession requiring specialized training. Generally,
it is considered as a final degree, and often involves an internship,
a practicum, or fieldwork.
Research master’s degree provides experience in research and scholarship, and may be a final degree or a step toward the Ph.D. A master’s degree usually takes between one to two years of study.
Professional doctoral degrees include the M.D. for medical practice and the J.D. for practicing law.
Research doctorate or Ph.D. (Doctor of Philosophy) typically involves coursework and a major research project culminating in a dissertation. A Ph.D. usually takes a minimum of four to six years of full-time study.

Thesis: a research project conducted by a graduate student, usually as a final requirement for a graduate degree.
Dissertation: a research project conducted by a doctoral student after finishing courses and examinations. It is an original work as it covers new areas of the discipline in which it was written.
Fellowship: basically a scholarship which, in many cases is awarded based on merit. There is no work required for a fellowship.
Assistantship: an award of money for which work is required; positions might include teaching assistant or research assistant.
Stipend: a monetary grant to a student to cover costs other than tuition and fees.
GMAT: Graduate Management Admissions Test
GRE: Graduate Record Examination
LSAT: Law School Admission Test
MCAT: Medical College Admissions Test
MAT: Miller Analogy Test
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